Turkmenistan And Iraq Approve Volume Of Natural Gas Supplies Through Protocol
Date
11/10/2023 7:15:57 PM
(MENAFN- Trend News Agency) ASHGABAT, Turkmenistan, November 11. The volume
of natural gas supplies from Turkmenistan to Iraq will amount to
about 9 billion cubic meters per year, Trend reports.
The corresponding Protocol on the main commercial terms of the
agreement on the sale, purchase and sale of Turkmen Natural gas was
signed in Ashgabat following a meeting of representatives of the
Turkmenistan's Turkmengaz State Concern with an Iraqi delegation
headed by the Minister of Electricity Ziad Ali Fadel.
According to the protocol, 9 billion cubic meters of
Turkmenistan's natural gas will be transported annually through
Iran to Iraq under the swap scheme for a period of 5 years.
Meanwhile, in October of this year, a Memorandum of
Understanding was signed between the Turkmengaz State Concern and
the Ministry of Electricity of Iraq.
This agreement is an important step in the development of
cooperation between Turkmenistan and Iraq in the energy sector. It
will allow Turkmenistan to diversify its gas exports and provide
Iraq with stable energy supplies.
According to the results of this year, gas production in
Turkmenistan is expected to exceed 80 billion cubic meters, of
which about 73 billion cubic meters will be accounted for by
Turkmengaz, and exports are projected to amount to about 40 billion
cubic meters, of which about 35 billion cubic meters will be
supplied by the state concern.
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